Summitry LLC Cuts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Summitry LLC reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,279 shares of the transportation company's stock after selling 23,861 shares during the quarter. Old Dominion Freight Line accounts for 1.6% of Summitry LLC's investment portfolio, making the stock its 25th biggest holding. Summitry LLC owned about 0.09% of Old Dominion Freight Line worth $32,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $35,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line in the third quarter worth $45,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at $41,000. Brown Brothers Harriman & Co. boosted its position in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after purchasing an additional 215 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $51,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent analyst reports. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and raised their price objective for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Stephens reissued an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Citigroup dropped their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. StockNews.com downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus target price of $201.40.

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Old Dominion Freight Line Trading Down 3.2 %

Old Dominion Freight Line stock traded down $5.38 during trading on Friday, reaching $164.85. The company had a trading volume of 1,285,770 shares, compared to its average volume of 1,626,009. Old Dominion Freight Line, Inc. has a 12-month low of $157.67 and a 12-month high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock's 50 day moving average price is $182.63 and its two-hundred day moving average price is $193.55. The firm has a market capitalization of $35.04 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's payout ratio is currently 18.98%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.